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Jan 09, 2012, 06.48 PM IST
On the upside Subex can touch Rs 50-55, says Ambareesh Baliga, COO, Way2Wealth.
Baliga told CNBC-TV18, "In Subex I mean there are two things. One is the FCCB issue. I think that was one of the major reasons why this stock has cracked so much because if you look at the business, the business has been doing decently well. But the fear was that the FCCB issue could lead it into liquidation. So because of which we had seen those levels of Rs 22-24. But now since that is sorted out to a certain extent with the fresh fund flow." He further added, "I suppose the only way this stock can move is up. I think the down side is limited as of now. It seems that Rs 26-28 is the down side for the stock whereas on up side one can easily see Rs 50-55. If possible one waits for the next two quarter results."
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